Black Friday Rebound

Black Friday sales bounced back this year as shoppers looked out for good deals, despite predictions the higher cost of living would dampen the event. Barclaycard Payments, which processes £1 in every £3 spent on UK cards, said transactions rose 3.2% on last year. An all-time Black Friday record was made for the number of transactions per second between midday and 1pm. Currys said energy-efficient products led its sales as customers looked to save money on energy bills. Footfall in shops was up on 2021 with no Covid rules this year, but was down compared to before the pandemic. Experts had predicted overall sales and profits would be lower than last year, due to customers tightening their purse strings as prices rise at the fastest rate for 41 years.

Black Friday

Dr Martens Boots Up Prices

Dr Martens is to step up the price of its boots by 6%, as it says the cost of labour, energy and supplies, including the bouncy soles and leather, has risen. The Northamptonshire-based footwear group will increase prices for the second year in a row on the classic boot, which currently costs about £159, adding £10 to the price. The rise will come next autumn to reflect higher production costs that the company has now locked in over the course of next year. Staff costs are rising, and Dr Martens is offering a £500 cost of living bonus – paid out over October and November – to about 2,000 of its 3,500 workers around the world. Wilson said the company was making the payment as its workers were facing “very tough levels of inflation” around the world: “At the end of the day, people are the differentiator. We have a highly engaged workforce and wanted to show we cared for people who work for Dr Martens, and actions speak louder than words.” Shares dived almost 24% as the company warned of “variable trading” in recent weeks, partly because of mild autumn weather in the UK and Europe, and said that profit margins would take a hit.

Dr Martens

Apple Workers Protest in China

Protests have erupted at the world's biggest iPhone factory in the Chinese city of Zhengzhou, according to footage circulated widely online. Videos show hundreds of workers marching, with some confronted by people in hazmat suits and riot police. Those livestreaming the protests said workers were beaten by police. Videos also showed clashes. Manufacturer Foxconn said it would work with staff and local government to prevent further violence. In its statement, the firm said some workers had doubts about pay but that the firm would fulfil pay based on contracts. Last month, rising Covid cases saw the factory locked down, prompting some workers to break out and go home. The company then recruited new workers with the promise of generous bonuses. But one worker said these contracts were changed so they "could not get the subsidy promised", adding that they were quarantined without food. The Zhengzhou plant employs more than 200,000 people, making Apple devices including the iPhone 14 Pro and Pro Max.

Apple China Protests

Lucozade Pulls Out of World Cup

England sponsor Lucozade will avoid having a brand presence at the FIFA World Cup in Qatar. Lucozade is a partner of England, rather than FIFA or the tournament itself, and has chosen to remove its branding at “press conferences, training sessions, and pitches”. It is understood that it is a matter for England partners how they activate their sponsorship of the England team in Qatar. A statement from the drinks company to The Athletic read: “Lucozade Sport is a proud long-term sponsor of the England team, but we are not an official FIFA World Cup partner. We continue to support all England teams, who celebrate diversity, equity and inclusion. “While the England team have access to our drinks for hydration purposes we will not have a brand presence at press conferences, training sessions or on pitches.” Other brands have also attempted to minimise their presence at the tournament. For example, Hummel, Denmark’s kit manufacturer, “toned down” its logo and design on the team’s World Cup kits because it does not want to endorse Qatar, the host nation.

Lucozade World Cup

Bezos to Give Away Fortune

Amazon founder Jeff Bezos has said he plans to give away most of his $124bn (£107bn) fortune during his lifetime. The businessman told news network CNN he would donate his wealth to fighting climate change and reducing inequality. He has previously been criticised for not promising to dedicate his fortune to charity. Investor Warren Buffett, Microsoft founder Bill Gates and Mr Bezos's ex-wife MacKenzie Scott have all promised to give their money away.  Mr Bezos revealed his plans after donating $100m to the country music star and philanthropist Dolly Parton to use for charitable causes. The multi-billionaire previously pledged $10bn to the Bezos Earth Fund, which he launched in 2020 to help fight climate change. The move came after Mr Bezos and other entrepreneurs were criticised for spending vast amounts of money on trips into space instead of solving problems on Earth. Amazon had also been criticised in the past by its workers over its record on climate change. Mr Bezos became one of the richest people on the planet after Amazon, the internet retailer he founded in 1994, became a global phenomenon.

Bezos Fortune

Primark Trials Click + Collect

Primark's website crashed on Monday, shortly after the retailer finally launched its click-and-collect service. It is starting a trial in 25 stores in north-west England, Yorkshire and north Wales for children's products only. The budget chain, which lost more than £1bn in sales during the pandemic when its stores had to close, has succumbed to the online shopping revolution but it is not planning deliveries. Primark said it was aware some people had issues accessing its site. "We're working hard to address this to ensure that everyone can access and browse the site easily," the company said in a statement. By mid-afternoon the website appeared to be back up and running for some customers. During the pandemic lockdowns Primark's 190 UK stores were forced to close its doors, and it had no online operation to fall back on. Given the costs of fulfilling and delivering online orders, and dealing with high levels of returns, it can be hard for retailers to make the economics of e-commerce stack up. Primark has also been upping its game at its biggest "destination" stores, like its vast Manchester city centre one, with cafes, a barber shop, a vintage concession store and pop-up space to personalise Primark products.

Click + Collect

KFC Promotion Mistake

KFC has apologised after sending a promotional message to customers in Germany, urging them to commemorate Kristallnacht with cheesy chicken. The Nazi-led series of attacks in the country in 1938 left more than 90 people dead, and destroyed Jewish-owned businesses and places of worship. It is widely seen as the beginning of the Holocaust. The message, heavily criticised for its insensitivity, was later blamed on "an error in our system". The fast-food chain sent an app alert on Wednesday, saying: "It's memorial day for Kristallnacht! Treat yourself with more tender cheese on your crispy chicken. Now at KFCheese!" Around an hour later another message was sent with an apology, according to the Bild newspaper. "We are very sorry, we will check our internal processes immediately so that this does not happen again. Please excuse this error," the message is reported to have said.

KFC Apologise